Make Sure Manual Payment Does Not Disable Automatic Payment of Your Bills
Paying bills automatically is a real simple task . No stamps, no late fees; just install and forget about it. However, if you make a prepayment, automatic payments in the future may be canceled without your knowledge. This means you won’t know your bills aren’t getting paid until you see late fees or, worse, a cancellation notice.
Always keep track of automatic payments , especially after you have made manual payments . You may be changing banks or making an additional principal payment, regardless of the reason for the manual payment, keep tracking.
If you notice that automatic payment is turned off, please contact the company immediately. In some cases, you can simply log into their website and turn it back on. By not paying attention, you run the risk of negatively affecting your credit rating and possibly giving up vital services.
Five Reasons to Beware of Auto Payments | Reuters
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